Business description: Icade

Icade is both a commercial real estate company (assets at 12/31/2025: EUR 6.1 billion, including 100% ownership and joint-venture interests) and a property developer (net sales in 2025: EUR 1.1 billion), operating throughout France. As a long-term partner, Icade responds to changing needs and puts climate issues and the preservation of biodiversity at the heart of its business model, reinventing real estate and contributing to a more sustainable city.

Listed (SIIC) on Euronext Paris, Icade's main shareholder is the Caisse des Dépôts group.

Number of employees: 981

Sales by Activity: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Property Development

94Cr 107.71Cr 113.92Cr 121.41Cr 112.79Cr

Property Investment

41Cr 40Cr 52Cr 38Cr 35Cr

Intersegment Transactions and Other Items

-1.55Cr -1.76Cr 13L -10L -21L

Unallocated Adjustment for Property Development Joint Ventures

- - - -18Cr -14Cr

Healthcare Property Investment Business

32Cr 36Cr - - -

Geographical breakdown of sales: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

France

164.8Cr 182.96Cr 152.47Cr 141.23Cr 133.69Cr

Executive Committee: Icade

Manager TitleAgeSince
Chief Executive Officer 44 21/04/2023
Director of Finance/CFO 60 07/04/2025
Chief Tech/Sci/R&D Officer - 01/07/2024
Compliance Officer 56 01/01/2018
Corporate Secretary - 29/06/2026

Composition of the Board of Directors: Icade

Director TitleAgeSince
Director/Board Member 62 31/05/2011
Director/Board Member 69 23/05/2016
Director/Board Member 52 24/04/2019
Director/Board Member 68 06/10/2020
Director/Board Member 61 17/10/2019
Director/Board Member 56 20/10/2023
Director/Board Member 54 06/12/2023
Director/Board Member - 19/04/2024
Director/Board Member 61 20/10/2023
Chairman 64 10/06/2026

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
2,98,85,071 39.2 % 665 M €
Predica Prévoyance Dialogue du Crédit Agricole SA (Invt Port)
18.85 %
1,43,73,960 18.85 % 320 M €
Goldman Sachs International (Invt Mgmt)
3.37 %
25,69,266 3.37 % 57 M €
Icade Employee Stock Ownership Plan
0.5532 %
4,21,722 0.5532 % 9 M €
0.5358 %
4,08,466 0.5358 % 9 M €

Holdings: Icade

NameStocks%Valuation
ICADE
0.54%
4,08,4660.54% 9 M $

Company details: Icade

Icade SA

Tour Hyfive

92074, Paris

+33 1 41 57 70 00

http://www.icade.fr
address Icade(ICAD)

Group companies: Icade

NameCategory and Sector
Quinconces Activites SCI
Real Estate Development
Real Estate Development
Silky Way SCI
Stratège SCI

Diversified REITs

Change 5-day change 1-year change 3-year change Capi.($)
-0.48%-2.72%-18.02%-42.06% 165.3Cr
+0.08%+1.87%+9.82%+12.64% 1.64TCr
+0.10%+5.12% - - 708.91Cr
+0.37%-3.53%+20.46%+16.59% 685.89Cr
+0.23%+1.76%+1.07%+32.69% 672.61Cr
+0.85%-8.67%-12.71%+14.77% 640.93Cr
0.00%-3.37%-17.32%-22.93% 618.18Cr
+0.21%-1.09%+0.90%+9.15% 606.53Cr
+0.43%-2.52%+24.87%+36.77% 589.95Cr
+2.70%+7.34%-18.10%-19.83% 519.67Cr
Average +0.45%-1.03%-1.00%+4.20% 684.71Cr
Weighted average by Cap. +0.42%-0.56%+2.42%+9.67%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
18.61EUR
Average target price
21.22EUR
Spread / Average Target
+14.01%

Quarterly revenue - Rate of surprise